Over $5M in SUI, OP, ZETA, KAS, DYDX, and ENA Crypto Tokens Set to Unlock This Week

The first release involves SUI, where $263.20 million in tokens, representing 2.19% of its circulating supply, will be unlocked soon.

Over $5 million in crypto tokens are set to be unlocked in the coming week, according to data from Footprint Analytics.

The first release involves SUI, where $263.20 million in tokens, representing 2.19% of its circulating supply, will be unlocked soon. Following closely, Optimism (OP) will see $58.61 million worth of tokens, or 2.32% of its total supply, unlocked within hours. Zeta Chain (ZETA) will release $31.22 million, accounting for 9.35% of its supply, during this same period.

In total, SUI will see $267.7 million in tokens unlocked this week, while OP, ZETA, Kaspa (KAS), dYdX (DYDX), and Ethena (ENA) will see $58.6 million, $32.2 million, $14.7 million, $13.0 million, and $12.0 million, respectively.

These releases often impact the market by increasing the circulating supply, which can influence prices, trading volumes, and liquidity. For instance, Kaspa, which utilizes the GHOSTDAG consensus protocol, aims to facilitate high-throughput financial applications with its scalable and secure framework.

Token unlocks usually pertain to the planned release of previously locked tokens, often allocated to early investors and project teams, which increase circulating supply and can affect prices if market demand doesn’t match the influx. While substantial unlocks might suggest selling pressure and influence short-term prices negatively, they may also drive ecosystem growth by funding development or encouraging participation. Investors typically keep an eye on these events to anticipate price shifts and adjust strategies accordingly.